BOSTON Nov 8 BNY Mellon Corp warned on
Thursday that it expected some loss of revenue and reduced
business activity in the fourth quarter, blaming the snarls
caused by Hurricane Sandy.
"However, we are unable to estimate the loss of revenue and
storm-related costs at this time," BNY Mellon, the world's
largest custody bank, said in a quarterly filing with U.S.
Hurricane Sandy affected several of BNY Mellon's facilities
in the northeastern United States. But the New York-based bank
said its continuity plans have functioned well, allowing it to
serve its customers.
"We expect some loss of revenue related to market closures
on Oct. 29 and Oct. 30 and reduced business activity in the
immediate aftermath of the storm," BNY Mellon said.